Point72 Asia Singapore Pte. Ltd. Makes New $204,000 Investment in Evans Bancorp, Inc. (NYSEAMERICAN:EVBN)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Evans Bancorp, Inc. (NYSEAMERICAN:EVBN) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 7,269 shares of the bank’s stock, valued at approximately $204,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Evans Bancorp by 0.6% during the first quarter. Vanguard Group Inc. now owns 281,299 shares of the bank’s stock valued at $8,400,000 after purchasing an additional 1,620 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Evans Bancorp by 78.1% in the first quarter. BNP Paribas Financial Markets now owns 2,624 shares of the bank’s stock valued at $78,000 after buying an additional 1,151 shares in the last quarter. PL Capital Advisors LLC lifted its position in shares of Evans Bancorp by 3.0% during the 1st quarter. PL Capital Advisors LLC now owns 538,437 shares of the bank’s stock valued at $16,078,000 after acquiring an additional 15,788 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Evans Bancorp during the 2nd quarter worth $237,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Evans Bancorp in the 2nd quarter worth $500,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Evans Bancorp from $26.50 to $30.50 and gave the company a “market perform” rating in a report on Thursday, August 1st. StockNews.com started coverage on shares of Evans Bancorp in a report on Thursday. They issued a “hold” rating for the company.

Evans Bancorp Stock Performance

EVBN opened at $38.35 on Friday. The firm has a market capitalization of $212.08 million, a PE ratio of 10.01 and a beta of 0.91. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. Evans Bancorp, Inc. has a 12-month low of $24.07 and a 12-month high of $40.97.

Evans Bancorp (NYSEAMERICAN:EVBN) last posted its quarterly earnings results on Tuesday, July 30th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.15. Evans Bancorp had a return on equity of 11.20% and a net margin of 14.51%. The firm had revenue of $30.22 million for the quarter.

Evans Bancorp Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th will be given a $0.66 dividend. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 12th. Evans Bancorp’s dividend payout ratio (DPR) is 34.46%.

Insider Buying and Selling

In related news, major shareholder Pl Capital Advisors, Llc purchased 6,680 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were acquired at an average cost of $32.81 per share, with a total value of $219,170.80. Following the completion of the purchase, the insider now owns 611,759 shares of the company’s stock, valued at approximately $20,071,812.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.34% of the stock is currently owned by corporate insiders.

Evans Bancorp Profile

Evans Bancorp, Inc primarily operates as financial holding company for Evans Bank, N.A. that provides a range of banking products and services to consumer and commercial customers in the United States. The company offers deposit products, which include checking and negotiable order of withdrawal accounts, savings accounts, and certificates of deposit.